Base of Operations for Expanding South American Market Established Kuraray Finalizes Corporate Information Names Local Brazilian Subsidiary "Kuraray South America"
Kuraray Co., Ltd. (President: Fumio Ito; Headquarters: Chiyoda-ku, Tokyo; hereafter "Kuraray") announces the finalization of details regarding its local Brazilian subsidiary, the establishment of which was announced in April 2010, as set out below.
(For more information on Kuraray's decision to establish the aforementioned subsidiary, please refer to: http://www.kuraray.co.jp/en/news/2010/100430_4)
The building that houses Kuraray South America
- Company Name
- Kuraray South America Representações Ltda. (Kuraray South America)
- Capital
- 3.5 million reais (approximately 180 million at November 2010 rate of exchange)
(Kuraray 100%) - President
- Akihiro Hoashi
- Address
- Al. Campinas, 977, 5O andar, CEP 0140-4001 -Jd. Paulista, São Paulo - SP, Brazil
- Number of employees
- 3 (initially)
- Intended commencement of operations
- December 2010
Although the new subsidiary's business activities and target remain unchanged from those announced in April 2010, these are stated below for reference.
- Business activities
- Initially, the construction of infrastructure for the Kuraray Group's business expansion in South America
- Target
- Expand Kuraray Group sales for the Latin American regions to $200 million after five years
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